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NEW YORK (CNNMoney) — Taking an unusual tack to dealing with a $3.6 billion budget deficit, Florida Gov. Rick Scott unveiled a budget Monday that cuts $4 billion in property and corporate income taxes.

The budget, which the newly installed governor has said is the nation’s most fiscally conservative, also cuts $4.6 billion in spending from services such as Medicaid and prisons. Public employees would also have to contribute 5% for their pension benefits, which will save $2.8 billion over two years.